Latest news with #GBCorp
Zawya
a day ago
- Automotive
- Zawya
Egypt: GB Corp's consolidated profits surge 59.6% YoY in H1 2025
Arab Finance: GB Corp recorded 59.6% year-on-year (YoY) higher consolidated net profits after tax and minority interest at EGP 1.672 billion in the first half (H1) of 2025, versus EGP 1.048 billion, the financial results showed. Total sales revenues hit EGP 35.850 billion in H1 2025, an annual leap of 86.9% from EGP 19.181 billion. Nader Ghabbour, CEO of GB Corp, commented: 'The first half of 2025 was a period of significant progress for GB Corp as we delivered strong revenue and earnings growth, while advancing key strategic priorities across our Auto and Capital segments.' He elaborated: 'On the Auto side, we delivered robust year-on-year volume growth across Egypt, Iraq and Jordan, strengthened our market leadership at home, and expanded into the premium segment with the successful launch of Genesis. 'Our new CKD production plant in Sadat is progressing on schedule, with partial operations commencing this quarter and full operations expected by Q4 2025,' the CEO revealed. © 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (
Zawya
10-08-2025
- Business
- Zawya
Fawry partners with FORSA to provide "Buy Now, Pay Later" services through its POS machines
Cairo, Egypt – Fawry, Egypt's leading fintech company, announced a new strategic partnership with FORSA, a subsidiary of Drive Finance, one of the companies under GB Capital—the financial arm of GB Corp. This step aligns with Egypt's Vision 2030 for building an integrated and sustainable digital economy, reflecting Fawry's strategy to enhance digital transformation and support financial inclusion in the fintech sector. The partnership aims to offer seamless, secure, and more convenient services that meet the needs of various customers segments by providing Buy Now, Pay Later (BNPL) options, in addition to installment services via Fawry's 395,000+ point-of-sale (POS) machines across the country. This collaboration will also support merchants by enabling them to benefit from FORSA's services, streamlining their daily operations, and expanding their customer base through Fawry's extensive network. Commenting on the partnership, Bassem Lotfy, Head of Business Development at Fawry, said: "At Fawry, we are keen to expand our operations by collaborating with many flexible financial entities like FORSA, which reflects our commitment to providing diverse and secure digital solutions that support both merchants and customers. These partnerships create added value for Fawry network and contribute to our main goal of enhancing the end-user experience." For his part, Gasser Darwish, Chief Commercial Officer at FORSA, stated: "At FORSA, we aim to expand the reach of installment and BNPL services in the Egyptian market, to offer more flexible options to customers. Our partnership with Fawry will play a pivotal role in reaching a larger segment of merchants and customers. We recognize the necessity and importance of integrating financing services at the point of sale (POS), and we are committed to continuing these efforts in the coming period to simplify the purchase experience for customers." It is worth noting that this partnership is part of Fawry's strategy to expand its collaboration with major financial institutions in the Egyptian market. The partnership between the two companies will extend to include e-payment solutions and other financing services, enhancing the integration of Fawry's digital financial offerings and advancing financial inclusion in Egypt. About Fawry: Founded in 2008, Fawry Egypt's leading fintech company serving the banked and unbanked population. Fawry's primary services include enabling electronic bill payments, mobile top-ups and provisions for millions of Egyptian users. Other digital services also include e-ticketing, cable TV, and variety of other services. Through its peer-to-peer model, Fawry is enabling corporates and SMEs to accept electronic payments through a few platforms including websites, mobile phones, and POSs. With a network of 36-member banks, its mobile platform and 396 thousand agents, Fawry processes more than 6 million transactions per day, serving an estimated customer base of 53.8 million users monthly. Learn more at About FORSA FORSA is a user-friendly mobile application based on the Buy Now, Pay Later model. After downloading the app and applying for a credit limit, once approved, customers can purchase all their needs, whether goods or services, from a range of merchants and service providers available on the app through a simple and easy process. It is worth noting that FORSA is a mobile application owned by Drive Finance, offering diverse financial services and flexible installment plans for its customers. FORSA's business model reflects several core values, including diversity, offering varied financing options through different partnerships, as well as simplicity and speed in financing and installment procedures, as well as in using the app overall.
Zawya
16-05-2025
- Automotive
- Zawya
Egypt: GB Corp's consolidated profits inch up 0.03% YoY in Q1 2025
Egypt - GB Corp (AUTO) reported a 0.03% year-on-year (YoY) uptick in consolidated net profits attributable to the parent company in the first quarter (Q1) of 2025, recording EGP 626.522 million, compared to EGP 626.333 million, as per a filing. Similarly, operating revenues rose to EGP 16.760 billion in the three months to March 31st this year from EGP 9.006 billion in the same period a year earlier. The company did not post any standalone net profits. GB Corp is a leading automotive company in the Middle East. The Egypt-based company has operations across six primary lines of business: passenger cars, motorcycles and three-wheelers, commercial vehicles and construction equipment, tires, after-sales, and Iraqi operations. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Economic Key
15-05-2025
- Automotive
- Economic Key
GB Auto Launches its First "GB Tires" Branch in Partnership with Lassa Tyres
GB Auto, the leading player in Egypt's automotive sector and a subsidiary of GB Corp, has officially inaugurated the first branch of 'GB Tires' in partnership with Lassa Tyres – Turkey's leading tire brand and a strategic ally of the group since 1989. The branch is a new venture specializing in the trade, distribution and service of tires. Located in the Dahshour area of Sheikh Zayed City, the opening marks a strategic move to broaden customer options by offering high-quality tires that ensure excellent performance and safety across all road types. In addition to Lassa Tyres, the GB Tires branch brings together a selection of leading global tire brands, including Goodyear, Yokohama, Double Coin, SunFull, and Thunderer. This launch marks the group's first dedicated retail outlet in the tire sector—an important milestone in a broader expansion plan set to roll out through 2025. Building on its long-standing role as one of Egypt's largest tire distributors for corporate clients and institutions, GB Auto is now extending its expertise to the retail space. The new outlet reflects a strategic shift toward serving the local market directly, while maintaining its commitment to globally trusted brands and top-tier quality standards. Commenting on the launch, Mr. Khaled Arafa, Chief Operating Officer of GB Auto's Tire Division, stated: 'The opening of the first GB Tires branch is a strategic milestone that reflects our commitment to expanding our footprint in the Egyptian market. We're focused on delivering specialized solutions that elevate customer experience and meet their evolving expectations. This move also builds on our longstanding partnership with Lassa Tyres, which has played a key role in establishing us as a leading provider of high-quality, competitively priced tires tailored to local demand.' He added: 'At GB Corp, we believe diversity is the key to sustainability. With operations across six different sectors, we possess the experience and vision that allow us to grow with confidence. The Dahshour branch is just the beginning—our roadmap is clear, and we are gearing up to expand into additional locations to ensure our services reach the widest possible customer base across Egypt.' Mr. Kemal Yilmaz, Director of International Markets at Brisa Bridgestone Sabanci, also commented: 'The opening of this branch marks a new chapter in our successful partnership with GB Corp, offering us a stronger platform for direct engagement with a broader customer base in the Egyptian market. Over the years, we've worked together to provide integrated solutions tailored to the country's road conditions, while meeting the highest standards of performance and safety. We remain committed to further strengthening this collaboration and expanding the presence of our brand in one of the region's most strategic markets.' The launch event brought together representatives from both international and local companies, along with prominent figures from the automotive sector. Notable attendees included Mr. Karim Gaddas, Group Chief Operating Officer at GB Auto; Mr. Khaled Arafa, Chief Operating Officer of the Tire Division; and Eng. Ahmed Fathy, Senior Vice President of the Tire Division. The event also welcomed the Lassa Tyres team from Turkey including Mr. Haluk Kürkçü, CEO of Brisa-the parent company of Lassa Tyres. Also in attendance was Ahmed El Wakil, GB Tires brand ambassador and a prominent automotive influencer. It is worth noting that GB Corp continues to strengthen its presence in key sectors of the Egyptian economy through its subsidiaries, including GB Auto, GB Capital, GB Logistics, GB Ventures, GB Academy, and the Ghabbour Foundation for Development. The group remains committed to delivering sustainable returns across economic, social, and environmental fronts, in alignment with both local and global developments. تم نسخ الرابط
